News 16:00

BULLETIN 1 June 4 pm

Good afternoon. I am……..

In this bulletin:

# The petrol price hike and diesel price cut takes effect this week
# The DA blames the national government for the ongoing violence in Western Cape communities
# And soccer: Eighteen more lucky fans will join Bafana Bafana in Monterrey

# The Department of Mineral and Petroleum Resources has announced new fuel prices effective from Wednesday. Petrol prices will increase by 1.43-rand-per-litre, while diesel prices will drop by between 2.62- and 3.25-rand-per-litre. The adjustments follow stable global oil prices and a stronger rand, which initially supported fuel over-recoveries. National Treasury’s partial reinstatement of fuel levies resulted in petrol price increases. Illuminating paraffin’s price will decrease by 5.96-rand-per-litre, while gas will fall by 17-cents-per-kilogram.

# Moody’s Ratings has affirmed Eskom’s B2 long-term Corporate Family Rating, maintaining a stable outlook, citing improved operational performance, stronger cash flow generation and enhanced liquidity. The agency says government debt relief measures have contributed to Eskom’s financial recovery, but challenges remain. These include rising municipal debt, tariff regulations and capital expenditure demands. Eskom CEO Dan Marokane says the utility remains focused on its turnaround strategy. He highlights Eskom’s achievement of one year without load-shedding as a key milestone for energy security and economic growth.

# The DA in the Western Cape says national government remains disconnected from the realities facing communities plagued by gang violence. This follows deadly weekend shootings in Fisantekraal and Salt River in Cape Town that left three people dead and three others wounded. The DA’s Benedicta van Minnen criticised deputy president Paul Mashatile for failing to engage directly with affected residents during a recent visit to Mitchells Plain:

Moving abroad:

# French president Emmanuel Macron is hosting his annual “Choose France” investment summit today, with foreign investors already pledging billions of euro of capital for artificial intelligence and data projects. Some 200 top executives from around the world are expected at Versailles Palace west of Paris for the annual event. Last year’s conference set a record of 378.6-billion-rand in announced projects. The heads of several major multi-national investment companies are attending, including from Japan, Canada, and Taiwan.

# Soccer: The Department of Sport, Arts and Culture has announced an additional 18 South African supporters will get the chance to support Bafana Bafana at their third World Cup group-stage fixture against South Korea in Monterrey, Mexico, on the 24th. This has been made possible through a competition with private sector sponsors. Spokesperson Zimasa Velaphi says entrants must create a compelling digital pitch detailing why they deserve to represent South Africa internationally:

# And the financial indicators: The dollar trades at 16-rand-23-cents and the euro at 18-rand-91-cents. One British pound costs 21-rand-86-cents and Bitcoin trades at 72-thousand-149-dollars. Gold sells at four-thousand-500-dollars-14-cents a fine ounce and Brent crude oil is quoted at 92-dollars-81-cents a barrel.

Stay tuned for more news………….